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The shopping spree may start months, weeks or maybe the day before the school year begins. Buying a dozen pencils and a few Trapper Keepers won’t cut it for today’s students. The back-to-school buying binge may include trendy new clothes, shoes, sneakers, in addition to hefty expenses for extracurricular activities. For older kids, a new laptop, tablet or mobile phone may now be essential. It all adds up fast! According to a recent survey by RetailMeNot and The Omnibus Company, parents spend nearly $660 a year on school-related costs for their family.

But spending on your kids can offer some practical lessons that you can use to teach them about money. Only 17 states require students to take a personal finance course before they graduate from high school, according to the Council for Economic Education, so the responsibility of teaching kids how to manage, grow and protect their money often falls on parents. No matter how old your child is, here are three key lessons that you should teach them as they head back to school.

1. Wait before you buy.

Stress to your kids the value of delayed gratification. Start your child off with a piggy bank when they are about 5 or 6 years old. This can teach your child the importance of saving enough money for something they really want such as a toy or treat. Also show them how much they could save if they wait until an item goes on sale. You might explain to your child that you only have money to buy essential classroom supplies right now, but by December you’ll have enough money to buy him or her a new laptop after the holidays when they are on sale.

2. Compare prices before you buy.

Shopping around before you buy is a great way to get the best deal and save money. You can comparison shop for everything, whether it’s for groceries or a new refrigerator. When you do this, bring your kids along on the trip or show them the items that you are thinking of buying at online stores. It will rub off. This will instill the value of saving in your kids and they can start to use it in their life. For example, for Christmas, when your son or daughter makes a “Wish List” of gifts they’d like from Santa, they can add extra information. This extra information could include the best price he/she found online for the tablet, videogames and sneakers and the name of the retailer they want. Now, they will know how much is being saved with a discounted pair of shoes or clothing that they have selected.

3. Remember, a credit card is like a loan.

Get out of the habit of pulling out plastic for every purchase. Using cash and figuring out the change is a terrific math lesson for younger kids. Explain to them that using a credit card is like taking out a loan to make that purchase and you need to borrow wisely. You need to make sure you can afford that new pair of jeans or iPhone before you buy it. Let them know that credit cards can wreck finances. Rates on some store credit cards can top 20 percent, raising the price of that purchase significantly if you don’t pay off the entire balance on time. For your high schooler who may want his or her own credit card, start off with a debit or prepaid card that you can monitor first. Once you co-sign for them to get a real credit card, remember that if your kid doesn’t pay the bill, it will hurt your credit score, too.

First Financial’s VISA Platinum Card has rates as low as 10.9% APR and we have no balance transfer fees!* And for a limited time – if you are approved for a balance transfer of $5,000 or more to our VISA PlatinumCredit Card, you will receive 10,000 bonus CURewards Points! You can apply for the balance transfer by stopping into any branch or calling 866.750.0100 to be sent a balance transfer request form.**

First Financial also has a great Student Checking Account for students ages 14-23. It comes equipped with their own personalized Debit Card, has no minimum balance requirements, and more!***

*APR varies from 10.90% to 17.90% when you open your account based on your credit worthiness. This APR is for purchases, balance transfers, and cash advances and will vary with the market based on the Prime Rate. Subject to credit approval. No Annual Fee. Other fees that apply: Cash advance fee of 1% of advance ($5 minimum and $25 maximum), Late Payment Fee of up to $25, Foreign Transaction Fee of 1% plus foreign exchange rate of transaction amount, $5 Card Replacement Fee, and Returned Payment Fee of up to $25. A First Financial membership is required to obtain a VISA Platinum Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

**Additional bonus points will be reflected within 30 days from the balance transfer approval and can be viewed when signed into your VISA Platinum Card Account online through Online Banking. In order to redeem bonus points, an offer reference must be made to a First Financial representative. Bonus points can only be redeemed one time per member, on an approved balance transfer of $5,000 or greater during the promotional period of 4/28/14 – 12/31/14.

***A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the Bronze Tier. Click here to view full Rewards First program details, and here to view the Tier Level Comparison Chart. Accounts for children age 13 and under are excluded from this program.

Purchase Security: Provides protection, within the first 90 days from the date of purchase for eligible items purchased with a covered card. Reimbursement for items in the event of theft, damage due to fire, vandalism, accidentally discharged water, or certain weather conditions.

Return Protection: Provides reimbursement for the cost of an eligible item of personal property purchased entirely with an eligible card if you are dissatisfied with the item for any reason within 90 days of the date of purchase and the retailer will not accept the return.

Warranty Manager: Doubles the U.S. manufacturer’s warranty up to one year on warranties of three years or less and offers additional features such as the warranty registration service and a cardholder paid option to further warranty coverage.

Cell Phone Protection: Supplemental reimbursement for damage to an eligible cell phone if charged to a monthly cell phone bill of the covered VISA® Credit Card.

Travel Protection: Make sure your children are covered – whether backpacking through Europe or traveling back to school. Benefits can include:

Concierge Service: Provides 24/7 access to a concierge who can assist with travel arrangements, provide information on local events, sites to visit and more.

Emergency Medical & Dental: Provides up to $2,500 per covered person for medical and dental expenses incurred as a result of emergency treatment of a sickness or accidental injury during the course of a trip.

Emergency Evacuation: Provides up to $10,000 for evacuation expenses that result from an injury or illness on a trip while traveling.

Trip Cancellation Insurance: Reimburses a covered cardholder for the cost of a scheduled airline passenger fare for a covered trip in the event that the trip is cancelled or interrupted due to death, accidental injury, disease or illness, or default by scheduled airline due to insolvency.

If you are interested in learning more about these products feel free to call VISA® Enhancement Services at 1-800-261-3511 or visit www.usa.visa.com. For additional information on First Financial’s VISA® Platinum Credit Card visit our website.

*A First Financial membership is required to obtain a VISA® Platinum Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

Of all the joys that summer brings, vacation is one of the biggest joys of the season. While your vacation can bring you much needed rest and relaxation, it can also bring unnecessary stress if you are not wary of your expenses. Luckily, there are still plenty of ways to save an extra buck and avoid overspending while enjoying your escape.

The first step in every big decision is planning, and vacation is no exception. By taking the time to plan ahead, you will have more options to choose from before flights, resorts and other travel amenities get booked. This means you will be able to choose the best available deals, saving you serious amounts of money. Make an itinerary so you will know where you’re going each day of your trip, that way you can find coupons and discounts on certain restaurants and attractions. Also by planning ahead, you can be more flexible with your time, avoiding the days and months that are heavily traveled and highly priced.

Nowadays, airlines are charging more and more for extra luggage, heavy luggage and just luggage in general. So, now more than ever, it is important to make sure you pack as light as possible. Try reusing outfits after a few days and rolling your clothes to save space in your bags. Also, if possible, pack as much as you can in your carry on to prevent checked luggage fees. For guys, packing light is usually easier, so don’t be shy and lend out some of that extra space! Not only will packing light save you money, but carrying a few less bags can make your vacation even less stressful.

Most likely, you’re already paying a decent amount for your vacation, so you don’t want to spend any more money than you have to. Although this sounds like a no-brainer, you can’t imagine all the ways that you can waste money when you’re away. Chances are you are vacationing in a location geared toward travelers like yourself. The local businesses know this, and as a result they charge significantly higher prices. To avoid falling into this trap, you may want to bring snacks, because if you want to get a snack from a local resort or attraction, more often than not, it’s going to be overpriced. Also, you may want to cut down on souvenirs when you’re away. Although they are a nice reminder of your journey, they can be expensive. Plus, your pictures often do a better job of bringing back vacation memories, and these days, they cost next to nothing if you have your own camera.

Another way to avoid that extra spending is by taking advantage of anything free. No matter where you go, the hotel you stay at is more than likely to have complimentary shampoo, so use it. If you use shampoo that you bought at home, you’re just going to have to buy another bottle sooner than you would if you had used the hotel’s shampoo. Also, many resorts will offer free stays in exchange for your business, so take advantage and enjoy yourself!

Now that you’re on vacation, you’re going to have to decide whether you will be paying for your purchases with a debit card or a credit card. Although debit cards have their advantages – having a concrete value of money on your card forces you to budget – credit cards are typically the way to go on vacation. First of all, sometimes resorts or rental car companies will put a hold on your card as collateral. If this hold exceeds the actual cost of what you budgeted for, it will have no effect on your credit card, but with a debit card it could end up frozen and incapable of making further purchases until the hold clears. Also if your card gets stolen, it is much easier to deal with false charges to a credit card. Plus, some credit cards earn rewards (like First Financial’s VISA® Platinum Card), which can really pile up during vacation spending.

If you’d like more details, check out our low rate First Financial VISA® Platinum Credit Card.* We offer a great rewards program called CU Rewards, where you can accumulate a point for every dollar spent as a cardholder!

Now that you know the in’s and out’s of saving money on vacation, get out there, book your trip, and enjoy yourself!

*Subject to credit approval. Credit worthiness determines your APR. A First Financial membership is required to obtain a VISA® Platinum Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

First Financial gathers some easy tips and advice in order for you to save on back to school shopping:

Coupons and Coupon Codes: It’s all about the bargains. When shopping online, don’t forget about coupon codes that you can apply to your cart. Also, remember to look through newspapers and your junk mail to cut out coupons for various items that might be on your checklist.

Get Ahead: Most clearance items go on sale after the season has ended. Take advantage of this opportunity and buy items for the fall and winter even though it may be spring or summer, you’ll be able to save money and use it for the following year.

Use Your CU Rewards: All First Financial VISA® Platinum Credit Cardholders are eligible to earn reward points at various retailers by shopping on our CU Rewards Mall. For more information login to your CU Rewards account.

Outlet Shopping: Many people forget that large retailers have factory outlet stores. Outlets are great for special deals and markdowns on your favorite brands without paying full-retail price.

Leave the Kids at Home: Parents, you know all about the guilt-trip. Don’t be pressured to buy certain things and wind up spending more money than you have to!

Use Your Smartphone: They’re called “smart” for a reason. For example, the Google Shopper app enables you to scan an item’s barcode and then it shows the prices for the same product at different stores in your area so you can get the best bargain.

Utilize Social Media: While you’re poking around on Facebook and Twitter, make sure you “like” or follow your favorite stores and brands. They often post different deals, coupons, and promotions that are going on.

Sharing is Caring: Buy in bulk and split it amongst the kids, or save it for later on in the school year.

Don’t Forget About eBay and Amazon: Use these sites to your advantage; your kids don’t need the latest and newest technology, they need something that works and is fitting for them. Frequently, these sites will sell items new or barely used for a great price.

Maybe Hand-Me-Downs are Good: Do a little “summer cleaning” and go through your kids’ closets and see what could be passed on to another sibling.

If you need additional assistance paying for back to school supplies and clothing, First Financial offers one of the lowest credit card rates around. To learn more about First Financial’s VISA® Platinum Card and apply today, please visit our credit card page.